Rob Dyrdek announced the launch of a new contest series called Street League earlier this week. The series will bring true street skate plazas to huge arenas across the country, and will pit 24 of the world’s best skaters against each other in search of a piece of the $1.2 million prize. Skaters deemed worthy of entry into this elite contest include heavy-hitters like Paul Rodriguez, Ryan Sheckler, Mike Mo, Billy Marks, Eric Koston, Nick Dompierre, Chaz Ortiz, Geoff Rowley and many more. Beginning in 2011, participants in Street League will compete exclusively at these events. No word yet on how the producers of the Dew Tour and X Games feel about this, but with such A-list talent we’re guessing that they’re not too happy about it.

Dyrdek has his hands in so much these days, he’s really an inspiration to all the kids out there, as well as young businessmen. He’s the star of the MTV show Fantasy Factory, the brains behind Street League, clothing designer, movie star, restauranteur, and still manages a successful career as a professional skateboarder.

Dyrdek - Courtesy of DC Shoes

Riders are allowed to compete in unsanctioned events this season, so don’t worry about missing them if you already have plans to check out the X Games or the Dew Tour. Street League is backed by the fellas at DC Shoes and Monster Energy, and the inaugural event will be August 28, at the Jobing.com Arena in Arizona. The tour then goes to Southern California for a stop at Citizens Business Bank Arena and wraps up at the Thomas & Mack Center under the bright lights of Las Vegas on September 25.

Tickets go on sale June 1, so head on over to streetleague.com for purchase info, rider profiles and more.